Cease and Desist Order - Nova Trade Financial Holdings Ltd. (2013-04-06)

Summary

This is a published enforcement notice from the British Virgin Islands Financial Services Commission recording a cease and desist order issued against Nova Trade Financial Holdings Ltd. It is a targeted enforcement action against a single named entity, not a general rule applicable to industry at large.

• Legal basis: Issued under section 37(2A)(a) of the Financial Services Commission Act, 2001
• Order: Nova Trade Financial Holdings Ltd was directed to cease and desist carrying on all investment business in or from within the British Virgin Islands, with immediate effect
• Further requirement: The company must provide the Commission with evidence that it has ceased such investment business activities
• Reference: Matter ID ENF052413/087, Industry Type: Investment Business

The notice is informational for the wider public and industry, alerting them that this specific entity is not permitted to conduct investment business; it does not impose ongoing obligations on other regulated entities.

Key obligations

• Nova Trade Financial Holdings Ltd must immediately cease carrying on all investment business in or from within the British Virgin Islands
• Nova Trade Financial Holdings Ltd must provide the Commission with evidence that it has ceased such investment business activities

Applies to

investment business entities

Deadlines

• immediate effect: Cease and desist from carrying on investment business takes effect immediately upon issuance of the order